New Delhi, May 9
Anticipating a favourable outcome in the General Election next week, the BSE sensex hit a lifetime high of 23,000 points as a monster rally carried the index a whopping 650 points higher, its biggest gain since September last year.

The Indian stock market was an outperformer today and the 30-share BSE index scaled its all-time high of 23,048 points with ICICI Bank, Tata Motors and Reliance Industries being the main movers. The broad-based Nifty of the National Stock Exchange, too, spurted by 198 points, or 2.99 per cent to settle at record closing of 6,858 points. Both the indices posted their biggest single-session gains since September 19, 2013. The prospect of a Narendra Modi led-BJP government has been enthusing the stock markets.

Rahul Shah, vice president, Equity Advisory Group, Motilal Oswal Securities, said, “We believe market will continue to have Modi wave. Today’s rally was led by financials.”